Laserfiche WebLink
MINUTES OF THE <br />ORONO CITY COUNCIL MEETING <br />October 24, 2022 <br />6:00 o’clock p.m. <br />_____________________________________________________________________________________ <br /> <br />Page 6 of 6 <br /> <br />upcoming tech levy which is not adding anything but is just a renewal of something they need in Orono. <br />Mayor Walsh noted the public works facility was built 30 years ago and Orono has had a lot of expansion. <br />This City Council has been fortuitous in the knowledge and planning for future needs of the City. They <br />have spent at least 8 years preparing for bonding for facilities. He noted they borrowed $16,000,000 and <br />will have a facility that will probably take the City into the 22nd Century. As a perspective regarding debt, <br />the budget for 2023 is just over $8,000,000 with $17,000,000 in debt. In looking back over the schedule <br />from previous mayors who like to criticize this City Council, they would have $10,000,000 in debt for a <br />$2,000,000 budget which is almost five times their budget. The current Council is just a hair over two <br />times, which is fiscally fortuitous. The City knew interest rates would rise and the previous December got <br />the bond at 1.9%. Today that bond would be tripled if the Council had waited. <br /> <br />ADJOURNMENT <br /> <br />Seals moved, Printup seconded, to adjourn the meeting at 6:56 p.m. VOTE: Ayes 5, Nays 0. <br /> <br /> <br />ATTEST: <br /> <br /> <br />_____________________________________ _______________________________________ <br />Anna Carlson, City Clerk Dennis Walsh, Mayor